Ieq Capital LLC Invests $305,000 in Antero Midstream Corporation $AM

Key Points

• Ieq Capital LLC has acquired a new stake in Antero Midstream Corporation, purchasing 16,964 shares valued at approximately $305,000.
• Insiders, including Sheri Pearce, have engaged in significant transactions, with Pearce selling 39,155 shares for about $685,604, reducing her position by 26.88%.
• Antero Midstream's stock was recently upgraded by Zacks from a "hold" to a "strong-buy" rating, with price targets increasing from $15.50 to $19.00 across several firms.

Ieq Capital LLC purchased a new stake in Antero Midstream Corporation (NYSE:AM - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 16,964 shares of the pipeline company's stock, valued at approximately $305,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Boston Trust Walden Corp purchased a new stake in shares of Antero Midstream during the first quarter worth about $51,269,000. SIR Capital Management L.P. purchased a new stake in shares of Antero Midstream during the fourth quarter worth about $35,058,000. Tortoise Capital Advisors L.L.C. increased its position in shares of Antero Midstream by 31.7% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 9,311,881 shares of the pipeline company's stock worth $167,614,000 after acquiring an additional 2,242,283 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Antero Midstream during the first quarter worth about $25,226,000. Finally, Invesco Ltd. increased its position in shares of Antero Midstream by 2.0% during the first quarter. Invesco Ltd. now owns 30,631,765 shares of the pipeline company's stock worth $551,372,000 after acquiring an additional 586,966 shares during the last quarter. 53.97% of the stock is currently owned by institutional investors and hedge funds.

Antero Midstream Stock Performance

Shares of NYSE:AM traded up $0.10 during trading on Thursday, hitting $18.47. 3,788,214 shares of the company traded hands, compared to its average volume of 2,241,178. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 19.44 and a beta of 0.92. The business's fifty day moving average is $17.83 and its 200-day moving average is $17.72. Antero Midstream Corporation has a one year low of $14.22 and a one year high of $19.08. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.45.

Antero Midstream (NYSE:AM - Get Free Report) last posted its earnings results on Wednesday, July 30th. The pipeline company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $305.47 million during the quarter, compared to analyst estimates of $292.70 million. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The business's revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, equities analysts predict that Antero Midstream Corporation will post 0.95 earnings per share for the current fiscal year.

Antero Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a dividend of $0.225 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $0.90 annualized dividend and a dividend yield of 4.9%. Antero Midstream's dividend payout ratio is 94.74%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AM shares. The Goldman Sachs Group lifted their price target on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Wells Fargo & Company lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Morgan Stanley lifted their price target on Antero Midstream from $17.00 to $19.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Zacks Research upgraded Antero Midstream from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Finally, Wall Street Zen upgraded Antero Midstream from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $18.50.

Insider Activity

In other news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $17.51, for a total transaction of $685,604.05. Following the completion of the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.86% of the company's stock.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.